Geared to the skittish novice investor who may have been spooked by the September 11 fallout, The Informed Investor: A Hype-Free Guide to Constructing a Sound Financial Portfolio guides readers through the basics of investing with a reassuring tone and a relatively conservative long-term strategy. Frank Armstrong III, a former contributor to CNNMoney, explains how to assess risk, choose a mutual fund and interpret the advice of financial soothsayers. He weighs the relative advantages of mutual fund alternatives (like real estate investment trusts and variable annuities) and offers specific tips for parents worried about college tuition. (Mar.)